Mongolian poverty rate estimated at nearly 30 pct www.news.xinhuanet.com
ULAN BATOR, Oct. 19 (Xinhua) -- Nearly one in three Mongolians were living in poverty in 2016, according to a report released on Thursday.
The report, titled "Poverty Situation -- 2016" and released by Mongolia's National Statistical Office and the World Bank, found that the poverty rate increased by eight percentage points from that of 2014 to hit 29.6 percent.
It means that nearly a million Mongolians out of a population of 3 million were living in poverty.
Mongolia's economic growth has been slowing in recent years. Growth was 7.9 percent in 2014 but fell to 1.2 percent last year.